Cato Networks raises $359 million at $4.8 billion valuation, keeps IPO on ice

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Here’s the information extracted from the provided text:

Company: Cato Networks

  • Founders: Shlomo Kramer, Gur Shatz
  • Funding Round: Series G
  • Date of Funding: October 2023
  • Amount Raised: $359 million
  • Valuation: $4.8 billion (increased from $3 billion in September 2023)

Investors:

  • New Investors:
    • Vitruvian Partners
    • ION Crossover Partners
  • Existing Investors:
    • Lightspeed Venture Partners
    • Acrew Capital
    • Adams Street Partners

Total Funding: Over $1 billion

Additional Notes:

  • About $120 million of the new funding came through a secondary sale by employees.
  • Cato plans to push the boundaries of the SASE (Secure Access Service Edge) and AI-powered security market with the new funds.
  • The SASE market is expected to grow significantly, with competition from major players like Palo Alto Networks, Fortinet, and Cisco.

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2025-06-30 13:00:19